Farragut Invests in Malley's Candies

WASHINGTON, D.C. – Just in time for Valentine’s Day, Farragut Capital Partners is pleased to announce the closing of a subordinated debt and preferred equity investment in Malley’s Candies.  Farragut’s investment supported the recapitalization of Malley’s led by Promise Holdings, a Chicago-based independent sponsor.

Founded in 1935, Malley’s is a manufacturer of chocolate and confectionary products sold mostly by the company’s nineteen retail locations in and around Cleveland, Ohio.  A Cleveland institution, Malley’s is now in its third generation of family ownership and management.  CEO Mike Malley and his siblings all remain with the company through the transaction.  In addition to Promise, co-investors included Charter Growth Capital and a group of local Cleveland investors.

“We’re excited to partner with a longstanding Cleveland favorite,” said Rob Hagerty, Principal of Farragut.  “The Malley family deserves credit for nearly 90 years of successful operations, and we look forward to continuing that tradition and adding to it, too.”

“We’re pleased to partner with Farragut and the other investors in the recapitalization,” said Mr. Malley, the CEO.  “The Farragut team was great to work with, and we look forward to having their involvement and support.”

Malley’s marks Farragut’s third food investment in the past twelve months, in addition to Catalina Finer Foods and Fiesta Canning Co.

For more information on Malley’s, please visit www.malleys.com